PEP 38451 (Deepwater Taranaki Basin) Prospectivity Report

This report reviews and summarises the prospectivity of PEP 38451 subsequent to a block-wide interpretation update which was performed after the 2010-11 acquisition, processing and interpretation of 5668 km of new 2D seismic data. Conclusions of this report are that Rakopi Formation is present and is considered a primary reservoir target in the area, and Middle Cretaceous marine source rocks are anticipated to be mature for hydrocarbon generation. If postulated Cretaceous marine source rocks are present, it is interpreted there is a greater chance for liquid hydrocarbon generation. Previously prospective Paleogene deepwater channel and turbidite systems are now considered higher risk due to the anticipated lack of seals in place prior to hydrocarbon generation and migration.